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Press Dossier   News Category    Economy    UAE slashes fees for 14 business services by up to 92%

KHALEEJ TIMES, Wednesday, Jan 25, 2023 | Rajab 3, 1444

UAE slashes fees for 14 business services by up to 92%

Emirates: The UAE announced on Tuesday a sharp reduction in fees for 14 services as part of an on-going drive to further enhance the attractiveness of its business environment that is ranked 12th globally for competitiveness.

Effective from January 1, the Ministry of Industry and Advanced Technology (MoIAT) reduced the fees for 14 main and sub services and waived the fee for one service.

“The move aligns with the objectives of the ‘Make in the Emirates’ initiative aimed at creating an attractive business environment for local and international investors and support entrepreneurship and SMEs in the industrial sector by reducing the cost of doing business in the UAE,” the ministry said in a statement.

The UAE is the 12th ranking country globally and the number one in the Mena region in the last World Competitiveness YearBook released by the International Institute for Management Development (IMD), with a score of 88.67 out of 100. In the World Bank’s Doing Business Report, the UAE ranks at 16th position and first among the Arab countries. This is primarily because of the business setup services and successful business regulatory reforms to make the operations of businesses easier and better.

The ministry said the service fee reduction will encourage sustainable industries by promoting the deployment of advanced technology that lowers emissions and enhances the circularity of the sector.

As per the initiative, which is in line with the announcement of 2023 as the Year of Sustainability, the fee for issuing product conformity certificates from a provider of a specific conformity assessment drops to Dh670 from Dh1,000.

Other sharp reductions include: for conformity certificate for optional products to Dh1,720 from Dh3,700; licensing to use the Emirates Quality Mark to Dh2,000 from Dh26,000; licensing to use the national Halal mark to Dh2,000, from Dh18,000; and scope expansion of the Emirates Quality Mark and the national Halal mark to Dh250 from Dh2,500.

Fees for the notification of conformity assessment bodies have been cut from Dh33,000 to Dh24,500 and registering conformity assessment bodies from Dh7,500 to Dh5,000.

In addition, MoIAT waived the fee for selling UAE standards that previously cost Dh481.

“The reduction of fees will improve the UAE’s competitiveness through growth in economy and business development, which will reflect on the index of ease of doing business,” said Omar Al Suwaidi, Undersecretary of MoIAT.

He said the move is in line with the ministry's commitment to enhancing the flexibility of the legislative framework and providing added value to its customers.

“It also reduces the burden on the designated bodies as well as the registered conformity assessment bodies, which supports national industries in line with the national industry and advanced technology strategy, Operation 300bn.”

Al Suwaidi said the reduction and cancellation of some fees is in line with the ministry’s keenness to develop priority industrial sectors in the country and enhance its investment appeal, in line with the 'We the UAE 2031' vision that represents a national plan that offers promising opportunities for global partners.

“We also seek to further strengthen the UAE’s position as a global partner and an attractive and influential economic centre, as we enhance the competitiveness of industrial companies and their products without affecting the efficiency of their operations, as well as the certificates they issue.”

Al Suwaidi said his ministry pays great attention to establishing an efficient and effective industrial business environment, as studies conducted by the ministry's sectors indicated an increase in factories demand to obtain certificates, with an expected annual growth rate of up to 25 per cent in the number of applications for next year, compared to a 12 per cent increase in applications in 2020.

In addition, MoIAT anticipates an increase in requests for licensing the use of the Emirates Quality Mark and for issuing conformity certificates for products according to health and safety requirements.

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